Lying in about 110 feet of water, the shipwreck site is easily accessible by boat. Ocean Wave is a popular shipwreck for advanced divers, and remains mostly intact with a screaming eagle figurehead still visible. The site is marked with a seasonal Wisconsin Historical Society shipwreck mooring buoy, allowing boats to tie up directly above the site while protecting the shipwreck from inadvertent anchor damage and providing a safe point of ascent and descent for divers.